South African technology services company Azisa has been bought by Flextronics, a global provider of operational services which is based in Singapore and listed on the technology-heavy Nasdaq index in New York.
Financial terms of the deal, which closed at the end of September, have not been disclosed.
It`s not often a global organisation approaches a South African company for its specialist hi-tech skills.
Francois Geldenhuys, chairman and technical director, Azisa
Azisa, which designs and develops a range of software products, was the winner of last year`s President`s Award for export achievement and the SA Academy of Engineering award for productivity excellence.
Flextronics says the acquisition strengthens its software design offerings and provides a greater penetration in the telecommunications and networking industries.
"In addition, the deal allows Flextronics to establish design and development facilities in a low-cost region and increase its global footprint."
Azisa says most foreign companies invest in SA primarily to sell their products locally or to access natural or local resources. "It`s not often a global organisation approaches a South African company for its specialist hi-tech skills," says Francois Geldenhuys, Azisa chairman and technical director.
"The fact that Azisa enables Flextronics to extend the suite of services offered globally is proof positive that SA can compete with the best in the world."
Flextronics`s services focus on delivering design, engineering, test, manufacturing and logistics solutions to technology companies. Geldenhuys says these services will eventually become available locally through Flextronics SA.
The transaction also affords Azisa the opportunity to access new international markets.
Azisa`s products range from embedded to application level and are aimed at suppliers to the telecommunications, networking and related value-added service sectors.
Singapore-headquartered Flextronics operates in 29 countries. It reported revenue of $13.1 billion for its 2002 fiscal year.
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